On Media

Koch brothers will not buy Tribune papers

Conservative billionaires David and Charles Koch are no longer considering a bid for the Tribune Company newspapers, representatives from Koch Industries confirmed on Thursday.

The news comes four months after reports that the Koch brothers were exploring a bid to buy the company's eight regional papers, which include the Los Angeles Times, the Chicago Tribune, The Baltimore Sun and the Orlando Sentinel. The Tribune Company announced its intention to sell the papers in December of last year.

Citing sources with knowledge of the proceedings, The Daily Caller reported Thursday afternoon that the Kochs no longer see the Tribune investment as "economically viable."

Melissa Cohlmia, a Koch Industries spokeswoman, confirmed that report in an email to POLITICO on Thursday.

"Koch continues to have an interest in the media business and we’re exploring a broad range of opportunities where we think we can add value. In terms of the Tribune, the Daily Caller story is accurate," she wrote.

The news brings an end to much handwringing and protest from progressive activists in Los Angeles, Chicago and Baltimore who opposed the Kochs potential ownership. In Los Angeles, philanthropist Eli Broad was also reported to be considering a bid for the Times.